Williams is almost ready to announce Kimi Raikkonen's return to Formula One for 2012, according to media reports.
"(The) Raikkonen (agreement) is almost there," a source inside the famous British team is quoted by FAZ newspaper.
Italy's Autosprint reports that the funding is coming from Qatar.
Williams on Wednesday hinted at the deal by revealing that a memorandum of understanding with Mowasalat, a Qatari company, was signed in Doha for the use of the team's simulator technology.
"The funding for the 'Iceman' is coming from the heat of Qatar," said the Italian magazine.
The Finnish broadcaster MTV3 said the sponsorship of a Qatar bank is the next step.
That will validate a contract that Raikkonen, 32, reportedly signed recently "and the announcement will be made in Abu Dhabi" next weekend.
The Swiss publication Motorsport Aktuell said the 2007 world champion is Williams' "first choice" to be Pastor Maldonado's new teammate.
"He (Raikkonen) has been at Grove several times for talks," the report added.